142,097 Shares in Inspire Medical Systems, Inc. (NYSE:INSP) Bought by Riverbridge Partners LLC

Riverbridge Partners LLC acquired a new stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 142,097 shares of the company's stock, valued at approximately $26,342,000. Riverbridge Partners LLC owned about 0.47% of Inspire Medical Systems as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Amalgamated Bank lifted its position in shares of Inspire Medical Systems by 4.1% in the second quarter. Amalgamated Bank now owns 2,005 shares of the company's stock valued at $268,000 after buying an additional 79 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Inspire Medical Systems by 1.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company's stock valued at $1,461,000 after buying an additional 79 shares during the last quarter. Signaturefd LLC lifted its position in shares of Inspire Medical Systems by 45.9% in the third quarter. Signaturefd LLC now owns 270 shares of the company's stock valued at $57,000 after buying an additional 85 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Inspire Medical Systems by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company's stock valued at $2,836,000 after buying an additional 92 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Inspire Medical Systems by 37.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 368 shares of the company's stock valued at $68,000 after buying an additional 100 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock traded down $1.77 during mid-day trading on Thursday, reaching $187.28. 166,696 shares of the company were exchanged, compared to its average volume of 713,529. The company has a fifty day simple moving average of $188.72 and a 200-day simple moving average of $186.05. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The firm has a market cap of $5.61 billion, a PE ratio of 174.68 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The company had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. During the same quarter last year, the company posted ($0.29) EPS. The company's revenue for the quarter was up 32.6% compared to the same quarter last year. Sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on INSP. Truist Financial reissued a "buy" rating and set a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Stifel Nicolaus dropped their price target on Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating for the company in a report on Tuesday. Robert W. Baird lifted their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Royal Bank of Canada reissued an "outperform" rating and set a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Finally, Piper Sandler reissued an "overweight" rating and set a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $231.64.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc, a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.